A lucky brand can experience a tremendous bump in sales when a Duchess like Meghan Markle sports their fashion at a public event. Royalty is great, but for most eCommerce brands Loyalty is better and far more accessible.
According to BigCommerce, it costs 5 times as much to acquire a new buyer than to retain an existing customer – and loyal customers spend up to 67% more than new ones.
Loyalty programs are a proven method for generating repeat business from existing customers. Three BuyeRecommended eCommerce vendors share their secrets on how to make the most out of loyalty programs and which loyalty tools to consider:
Groove Commerce (BigCommerce) describes 8 types of customer loyalty programs and what types of eCommerce retailers can benefit most from them. They also tout their preferred customer loyalty system, Smile.io which supports 3 types of programs: points, VIP and referral.
Magneto (Home Goods Design) starts with the several strategies and tactics for making your loyalty program successful. They then offer a comprehensive list of eCommerce customer loyalty tools to consider including a screenshot and extensive table of attributes for each. You’ll want to bookmark this blog for future reference!
iDeveloperSquare (BigCommerce) presents 4 categories of tips accompanied by eye-catching info-graphics for connecting with customers through effective loyalty programs. Although it covers both online and offline programs, the article points out the tremendous advantage of shopping behavior data afforded to eCommerce merchants.
Keeping you e-formed,
Michael Bendit – Publisher
December 9, 2019
Finance & Payments